Simple Company has the following estimated costs for next year Direct materials $15.000 Direct labor $55.000 Sales commissions $75,000 Salary of production supervisor $35.000 Indirect materials $5,000 Advertising expense $11.000 Pent of factory equipment $16.000 Simplex estimates that 10.000 direct labor and 16.000 machine-hours will be worked during the year it overhead in applied on the basis of machine hours, the overhead rate per hour will be Note. Enterpunters only do not use dollarsen (S)ex.comme The Work in Process inventory account of a manufacturing company shows a balance of $2.400 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $400 and $200 for direct materials, and charges of $300 and $500 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of labor costs of: 125% 80% 240% 300%